Mexico Automotive OEM Coatings Market Size (2024 - 2029)

The Mexico Automotive OEM Coatings Market is experiencing a resurgence following the disruptions caused by the COVID pandemic, which had led to temporary closures in automotive manufacturing. The market's expansion is primarily driven by an increasing preference for personal transport, supported by improvements in infrastructure and the availability of affordable vehicles. However, the environmental impact of traditional coatings poses a challenge to market growth. The rising demand for electric vehicles presents new opportunities, while the passenger vehicles segment is anticipated to lead the market.

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Market Size of Mexico Automotive OEM Coatings Industry

Mexico Automotive OEM Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.70 %
Market Concentration High

Major Players

Mexico Automotive OEM Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Mexico Automotive OEM Coatings Market Analysis

The Mexico Automotive OEM Coatings Market was valued at USD 513 million at the end of the year and is projected to register a CAGR of 4.7% during the forecast period. The COVID pandemic negatively affected the automotive OEM coatings market as most automotive manufacturers closed their manufacturing activities. However, after Covid-19, automotive manufacturers resumed production work which helped to revive the market for automotive OEM coatings in the country.

  • Over the long term, the major factor driving the market is the preference for personal transport. The consumer preference for private transport has grown over the recent years due to better development of roads and infrastructure, startup innovations in the car rental industry, and the availability of low-cost cars that are affordable for middle-class people.
  • The harmful environmental impact of conventional coatings is expected to restrain the automotive OEM market in the country.
  • The rising demand for electric vehicles offers various opportunities for market growth during the forecast period.
  • In the application segment, the passenger vehicles segment is expected to dominate the market for automotive OEM coatings in the country.

Mexico Automotive OEM Coatings Industry Segmentation

Automotive OEM coatings are used to protect the vehicle body from corrosion. The coating applications include steps such as primer, basecoat, and clear coat, and top coat. Automotive OEM coatings will help to improve the appearance and performance of vehicles. The automotive OEM coatings market is segmented by application, technology, resin type and layer type. By application, the market is segmented into passenger vehicles, commercial vehicles, and ACE. By technology, the market is segmented into water-borne, solvent-borne, powder, and UV-cured. By resin type, the market is segmented into acrylic, alkyd, epoxy, polyurethane, polyester, and others. By layer type, the market is segmented into base coat, clear coat, electro coat, and primer. For each segment, the market sizing and forecasts have been done based on value (USD million).

Application
Passenger Vehicles
Commercial Vehicles
ACE
Technology
Waterborne
Solventborne
Powder
UV-Cured
Resin Type
Acrylic
Alkyd
Epoxy
Polyurethane
Polyester
Other Resin Types
Layer
Basecoat
Clearcoat
Electrocoat
Primer
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Mexico Automotive OEM Coatings Market Size Summary

The Mexico automotive OEM coatings market is experiencing a resurgence following the disruptions caused by the COVID-19 pandemic, which had led to temporary shutdowns in automotive manufacturing. The market is driven by an increasing preference for personal transportation, supported by improved infrastructure and the availability of affordable vehicles. However, the environmental impact of traditional coatings poses a challenge to market growth. The rising demand for electric vehicles presents new opportunities, particularly in the passenger vehicle segment, which is expected to dominate the market. Polyurethane-based coatings are widely used due to their durability and resistance to environmental factors, and advancements in eco-friendly coating technologies are anticipated to further propel market expansion.

Mexico's position as a significant player in the global automotive industry, being the sixth-largest manufacturer of passenger vehicles, underscores the importance of the OEM coatings market. The majority of vehicles produced are exported, with a substantial portion heading to the United States, supported by trade agreements like the USMCA. Despite challenges such as high raw material costs and semiconductor shortages, investments by companies like Ford to enhance electric vehicle production capacity are expected to bolster the market. The market is consolidated, with major players such as Akzo Nobel N.V., Axalta Coating Systems, BASF SE, PPG Industries, Inc., and The Sherwin-Williams Company playing pivotal roles in shaping the industry's landscape.

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Mexico Automotive OEM Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Mobility Preference for Personal Transport

      2. 1.1.2 Growing Demand for Better Interiors in Vehicles

    2. 1.2 Restraints

      1. 1.2.1 Fluctuating Automotive Industry

      2. 1.2.2 Harmful Environmental Impact of Conventional Coatings

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Value in USD Million)

    1. 2.1 Application

      1. 2.1.1 Passenger Vehicles

      2. 2.1.2 Commercial Vehicles

      3. 2.1.3 ACE

    2. 2.2 Technology

      1. 2.2.1 Waterborne

      2. 2.2.2 Solventborne

      3. 2.2.3 Powder

      4. 2.2.4 UV-Cured

    3. 2.3 Resin Type

      1. 2.3.1 Acrylic

      2. 2.3.2 Alkyd

      3. 2.3.3 Epoxy

      4. 2.3.4 Polyurethane

      5. 2.3.5 Polyester

      6. 2.3.6 Other Resin Types

    4. 2.4 Layer

      1. 2.4.1 Basecoat

      2. 2.4.2 Clearcoat

      3. 2.4.3 Electrocoat

      4. 2.4.4 Primer

Mexico Automotive OEM Coatings Market Size FAQs

The Mexico Automotive OEM Coatings Market is projected to register a CAGR of greater than 4.70% during the forecast period (2024-2029)

Akzo Nobel N.V., Axalta Coating Systems, BASF SE, PPG Industries, Inc. and The Sherwin-Williams Company are the major companies operating in the Mexico Automotive OEM Coatings Market.

Mexico Automotive OEM Coatings Report Snapshots

Mexico Automotive OEM Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)